Let $R;{in};C^{m{ imes}m}$ and $S;{in};C^{n{ imes}n}$ be nontrivial unitary involutions, i.e., $R^*;=;R;=;R^{-1};{ eq};I_m$ and $S^*;=;S;=;S^{-1};{ eq};I_m$. We say that $G;{in};C^{m{ imes}n}$ is a generalized reflexive matrix if RGS = G. The set of all m ${ imes}$ n generalized reflexive matrices is denoted by $GRC^{m{ imes}n}$. In this paper, an efficient method for the least squares solution $X;{in};GRC^{m{ imes}n}$ of the matrix equation AXB = D with arbitrary coefficient matrices $A;{in};C^{p{ imes}m}$, $B;{in};C^{n{ imes}q}$and the right-hand side $D;{in};C^{p{ imes}q}$ is developed based on the canonical correlation decomposition(CCD) and, an explicit formula for the general solution is presented.